The Finance Act 2020 has introduced a 25% tax rebate on the taxable basis corresponding to the mobile payment turnover made by individual professionals working under the simplified net income regime or the lump sum benefice regime.
This tax benefit aims to reduce the payments in cash and to foster payment through mobiles. It allows the following operations to be carried out:
- Money transfers;
- Payment of commercial transactions;
- Cash withdrawal and deposits.
In order to stimulate this payment method, the Amending Finance Act 2020 has replaced the above-mentioned rebate with provisions which stipulate that the turnover generated through mobile payment is not considered for five consecutive years when determining:
- The taxable basis of the income tax due by professional taxpayers working under the Simplified Net Income regime (RNS) or the Unique Professional Contribution regime (CPU);
- Thresholds for the application of income tax according to the above-mentioned regimes;
- Thresholds for application of VAT.
This measure is applicable for income declarations filed for the years 2020 to 2024.
Legal reference:
Article 247 ter of Moroccan Tax Code (MTC).
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